CHARTERED ACCOUNTANTS 
CHARTERED TAX ADVISERS BUSINESS DEVELOPMENT CONSULTANTS
CHARTERED TAX ADVISERS BUSINESS DEVELOPMENT CONSULTANTS
CHARTERED TAX ADVISERS BUSINESS DEVELOPMENT CONSULTANTS
Home > > 5 April 2008 Year End Tax Planning > Claiming tax relief on your capital expenditure
Capital allowances are the tax deduction your business obtains for depreciation and losses on disposal of assets - usually cars, plant, machinery and equipment - used in the business. They are available at a variety of rates, depending on the nature of the asset and the size of your business - ask us for details.
The end of the tax year on 5 April 2008 and the end of your accounting year will govern when tax relief can be claimed.
A purchase just before the end of the current accounting year will usually mean the allowance is available a year earlier than would have been the case, had the purchase been made just after the year end. Similarly, the disposal of an asset, particularly a car costing more than £12,000, may trigger an earlier claim for relief or even an additional charge to tax.
Care needs to be taken - the date expenditure is incurred is critical to the timing of tax relief.
For further details email Eacotts on services@eacotts.com or call 01628 665432
Eacotts Chartered Accountants and Chartered Tax Advisers
Servicing the Thames Valley, Berkshire, Buckinghamshire and the UK
This document is for guidance only and professional advice should be sought before acting on the information contained. No responsibility will be accepted by Eacotts for loss occasioned as a result of action taken, or refrained from, in consequence of the contents
Eacotts Limited is a company registered in England and Wales.
Company number 4708201. Registered Office: Grenville Court, Britwell Road, Burnham SL1 8DF
Visit our partner site - PayWithCare Payroll Processing Company UK - http://www.paywithcare.com
